VIVID Secures £50 Million Loan from Barclays to Retrofit Over 2,000 Homes Backed by National Wealth Fund’s Guarantee Scheme

(IN BRIEF) VIVID has secured a £50 million loan from Barclays, the largest loan available under the National Wealth Fund’s (NWF) £1.3 billion social housing retrofit guarantee scheme. This will support the retrofit of over 2,000 homes, improving energy efficiency and helping 4,000 tenants reduce their energy costs. The retrofit measures include energy efficiency improvements, heating upgrades, renewable energy installations, and resilience enhancements. This partnership underscores the UK’s commitment to improving social housing, contributing to decarbonisation and sustainability efforts.

(PRESS RELEASE) LONDON, 14-May-2025 — /EuropaWire/ — VIVID has successfully secured a £50 million loan from Barclays, enabling the retrofit of over 2,000 homes and improving the living conditions of more than 4,000 people in social housing. This loan marks a historic achievement as the first one to be backed by the National Wealth Fund’s (NWF) £1.3 billion social housing retrofit guarantees.

The £50 million loan, the largest available under the NWF guarantee scheme, is made possible by a 70% guarantee from the National Wealth Fund. The funds will be used to undertake energy efficiency upgrades and other retrofit measures, which are expected to significantly improve the homes’ sustainability and reduce tenants’ living costs.

Retrofitting homes to improve their energy efficiency has been an area of significant focus in recent years. Not only does it contribute to the decarbonisation efforts outlined in the UK’s Paris Agreement commitments, but it also reduces energy costs for tenants, helping to fight fuel poverty.

Eligible retrofit measures under the NWF guarantee scheme include energy efficiency improvements such as insulation and low-energy lighting, heating upgrades like heat pumps, renewable energy installations including solar panels, and resilience enhancements like flood resistance and water efficiency measures.

Miatta Fahnbulleh, Minister for Energy Consumers, commented: “This is fantastic news from VIVID and Barclays. The partnership secures the very first loan backed by our National Wealth Fund, which will help provide warmer homes and lower bills for thousands living in social housing. Our Warm Homes Plan, with £1.8 billion allocated to local authorities and housing providers, is picking up pace and delivering transformative upgrades across the UK.”

Mark Perry, Chief Executive of VIVID, said: “This groundbreaking £50 million loan is a pivotal moment in our mission to provide our customers with energy-efficient homes that are both warmer and more sustainable. Working with Barclays and the National Wealth Fund on this project will allow us to deliver real benefits to our community and drive down carbon emissions.”

Matt Hammerstein, CEO of Barclays UK Corporate Bank, expressed: “We are proud to support VIVID and the National Wealth Fund in this landmark deal. Social housing has been a focus of ours for over 30 years, and accelerating the decarbonisation of this sector is critical. We’re committed to continuing to provide funding and support, with £500 million allocated to retrofitting projects under this scheme.”

Stuart Nivison, Head of Portfolio Management at National Wealth Fund, added: “We are thrilled to see this inaugural loan agreement signed with Barclays, marking a significant step toward leveraging the £1.3 billion in financing the NWF has guaranteed for social housing retrofits. We encourage other housing providers to take advantage of this opportunity to help deliver greener, more sustainable homes.”

This loan is part of Barclays’ £500 million partnership with the National Wealth Fund, which aims to accelerate the retrofitting of social housing across the UK. With £1.3 billion in retrofit guarantees since October 2024, the NWF is helping to meet the urgent demand for energy-efficient homes.

For more information about the retrofit loan and the collaboration between VIVID, Barclays, and the National Wealth Fund, please visit: National Wealth Fund Retrofit Announcement.

Notes to editors

The loan is being issued under Barclays’ £500m partnership with the National Wealth Fund to accelerate the retrofit of social housing. This partnership forms part of a wider series of retrofit guarantees the NWF has provided since October 2024, totaling £1.3bn.
More info on the first of the scheme deals announced in October 2024 can be found here: https://www.nationalwealthfund.org.uk/news/national-wealth-fund-barclays-uk-corporate-bank-and-lloyds-banking-group-join-forces-unleash

Additional quotes:

Jonathan Roberts, Group Treasurer, VIVID, said: “We’re thrilled to secure this landmark £50m loan from Barclays, the first under the National Wealth Fund’s social housing retrofit scheme. The retrofit challenge is significant but important for supporting and even changing our customers’ lives. This deal exemplifies the collaboration needed to meet this challenge. We’ve appreciated working with the Barclays team; they have been flexible, efficient, and a pleasure to work with.”

About VIVID

We’re a leading provider of affordable homes and extensive support services in the south of England.

Everyone has the right to a safe and secure place to call home and with a VIVID home our customers also have access to a wide range of tailored support to sustain their tenancies and look after their wellbeing. This is summed up in our vision “More homes, bright futures”.

We invest in communities and address the shortage of affordable housing in the south, building the right type of homes to meet society’s needs.

www.vividhomes.co.uk

@WeAreVIVIDhomes

About Barclays

Our vision is to be the UK-centred leader in global finance. We are a diversified bank with comprehensive UK consumer, corporate and wealth and private banking franchises, a leading investment bank and a strong, specialist US consumer bank. Through these five divisions, we are working together for a better financial future for our customers, clients and communities.

For further information about Barclays, please visit our website home.barclays

Media Contact: charles.dart@barclays.com / ukpressoffice@barclays.com / sam.sinclair@vividhomes.co.uk

SOURCE: Barclays

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